Private equity firm Motilal Oswal Real Estate (MORE), which infused Rs 67 crore in a Shriram Properties’ housing project in Bengaluru in 2014-end, has got an exit of Rs 125 crore. MORE has exited from Shriram Properties’ India Realty Excellence Fund II (IREF II). The exit has been from a housing project ‘Shriram Greenfield’ near […]
Motilal Oswal Real Estate gets Rs 125-cr exit from Shriram Properties’ housing projectmore
Mumbai The Income Tax Appellate Tribunal (ITAT) has rejected a plea from a taxpayer for rectification of its earlier order, in which it had upheld disallowance of HRA claimed as exempt. The taxpayer had paid rent to her mother and the entire transaction was found to be a sham. By its act of rejecting the […]
ITAT refuses to rectify its earlier order that disallowed HRAmore
Bengaluru,Bengaluru real estate market has outperformed all other cities in terms of shedding unsold housing inventory. In its report released at ACETCH 2018 in Bengaluru recently, Anarock Property Consultants said Bengaluru witnessed a remarkable decline of 25 per cent in total unsold stock across top cities. The report studied Bengaluru’s residential real estate trends since […]
Bengaluru witnesses maximum drop in unsold housing stockmore
India’s banking liquidity crunch is extending to the nation’s developers, threatening to derail a nascent recovery in the property sector. Home builders in India have increasingly been turning to non-bank lenders for funding as traditional financiers struggle under bad loans. But following the government’s seizure of troubled shadow bank Infrastructure Leasing & Financial Services Ltd. […]
How a bank credit shortage has hijacked Indian real estate’s growth storymoreMumbai Twenty-nine years after two joint land owners transferred their four-acre plot in Bandra to a builder for Rs 10 lakh, a local court sentenced them to six months’ rigorous imprisonment for flouting income tax rules. Additional Chief Metropolitan Magistrate M I Lokwani sentenced two members of the Gurav family. The Income Tax (I-T) Department […]
Twenty-nine years after plot sale, two sent to jail in I-T casemore
Mumbai In one of the largest residential apartment transactions, textile major Welspun India’s co-promoter and managing director Rajesh Mandawewala has bought a triplex luxury sea-view penthouse in an under-construction project, 25 South, in Mumbai’s Prabhadevi locality for Rs 150 crore, said two persons with direct knowledge of the development. The apartment is spread over 18,000 […]
Welspun India MD buys penthouse in Prabhadevi for Rs 150 croremore
Mumbai In a blow to the Slum Rehabilitation Authority (SRA), the new Development Control and Promotion Rules (DCPR 2034) have made SRA schemes unviable. If these rules are not rectified, slum rehabilitation projects will fail to take off and no builder will be able to execute slum projects. This will further sink the failing realty […]
New DCPR rules make slum schemes unviable in Mumbai: SRA chiefmore
Mumbai Unauthorized constructions and land grabs are not new to the city and suburbs, but in Vasai-Virar, the illegality has turned so brazen that builders have taken to social media to openly advertise projects built on encroached government and reserved plots. Recently, the Vasai-Virar Municipal Corporation (VVMC) was stunned to see a video on YouTube […]
Vasai-Virar builders use YouTube to sell illegal chawl rooms for Rs 4 lakhmore
Bengaluru: Mumbai-based real estate developer Ajmera Group will invest up to $10 million in technology-based startups, with a focus on fintech and software-as-a-service (SaaS), as part of its expansion plan. It has already picked up stakes in three startups and plans to invest in another seven by the end of June 2019, said a top […]
Ajmera Group to invest $10 million in tech startupsmore
Though the is under stress for the last few years, this could be the beginning of a new growth story, said Niranjan Hiranandani, president (national), National Real Estate Development Council (NAREDCO) and chief managing director of Hiranandani Communities. The survival trick for developers and investors is to adapt to the changing environment and government policies. […]
Real estate sector to chart new growth story, will grow 35% annually in next 5 years: Niranjan Hiranandanimore
